April 28, 2020 / 10:34 AM / a month ago

Santander Brasil beats estimates on rapid loan book growth

SAO PAULO, April 28 (Reuters) - Banco Santander Brasil SA on Tuesday posted higher-than-expected first-quarter net income, driven by another period of rapid loan book growth and lower loan-loss expenses.

Profit came in at 3.853 billion reais ($681.6 million), 9.2% higher than forecast by Refinitiv analysts, and also up 10.5% from the same quarter a year earlier.

$1 = 5.6526 reais Reporting by Carolina Mandl; Editing by Catherine Evans

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